Re: Taking workplace pension at 55
I took one of my pensions early (all of it, not just the lump sum that was on offer).
I had 2 work pensions, neither of them are worth a huge amount as I was only in the respective jobs for 7 years each.
The Royal Mail one paid out when I reached 60 (I could have deferred but chose not to) and included a modest lump sum and a small pension.
The other one wasn't due til I reached 65 but I took it anyway, along with a virtually identical lump sum to the other one.
These 2 together each month plus the widow's pension I get (again, not a huge amount but good enough) is nearly enough to keep me afloat. I run at about a £30 per month deficit.
The 2 lump sums I got are more than enough to make up the deficit that I run at and the bonus being they are in high interest accounts so are working as hard as they can.
I decided (on a whim really) that I didn't want to be a wage slave anymore and was chuffed when it all worked out so well.
I still have my state pension to come when I reach 66.